BANKING SOFTWARE / INVESTOR INTELLIGENCE
The relationships looked strong.
The customers were looking elsewhere.
Independent buyer interviews exposed customer flight risk and major product gaps that new investors needed to understand.
20Existing customers interviewed
17 of 20Actively seeking alternatives
30KPIs explored with explanations
Investors needed answers. Internal confidence was not enough.
New investors wanted to know whether the software met banks’ needs. Lost-prospect interviews revealed substantial gaps. Management initially resisted interviews with existing customers, saying salespeople had the relationships handled.
17 of 20 were looking elsewhere.
After several months, the company provided access to 20 existing customers. Seventeen were actively seeking another banking software provider.
85%
Of the interviewed customers
Finding applies to the interviewed group.
The score was only the starting point.
Structured conversations captured 30 KPIs and the reasons behind each rating.
Explain the score
Identify the unmet need
This was a product gap, not a quick fix.
NPS and other indices were trending downward.
Banks needed major functionality that could not easily be reworked.
Customer needs
The specific capabilities and experience banks expected from the software.
Core functionality
The key areas where the product fell short of customer requirements.
Retention exposure
The risk of further customer loss if the gaps were not addressed.
A clearer basis for difficult decisions.
Understand customer risk
Hear intent directly from customers.
Examine product fit
Connect dissatisfaction to specific unmet needs.
Focus investor attention
Ground product and resource decisions in buyer evidence.
Know the risk before deciding the response.
The research gave investors an independent view of customer dissatisfaction and the scale of the product challenge.